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OceanFirst Financial Corp. operates as the bank holding company for OceanFirst Bank N.A. that provides community banking services to retail and commercial customers in the United States. The company accepts deposit products, such as money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits, including brokered deposits. It also offers commercial real estate, multi-family, land loans, construction, and commercial and industrial loans; fixed-rate and adjustable-rate mortgage loans that are secured by one-to-four family residences; and consumer loans, such as home equity loans and lines of credit, student loans, loans on savings accounts, overdraft line of credit, and other consumer loans. In addition, the company invests in mortgage-backed securities, securities issued by the U.S. government and agencies, corporate securities, and other investments; and provides bankcard services, trust and asset management products and services, deposit account services, sales of loans and investments, bank owned life insurance and commercial loan swap income. The company was founded in 1902 and is headquartered in Toms River, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $400M | - | $71M | $80M | 4.3% | 5.4% | -29.1% |
| 2024 | $380M | - | $100M | $85M | 5.9% | -4.7% | -3.8% |
| 2023 | $399M | - | $104M | $117M | 6.3% | -7.6% | -29.0% |
| 2022 | $432M | - | $147M | $230M | 9.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 431.60 | 398.72 | 379.81 | 400.34 |
| Operating Revenue | - | 431.60 | 398.72 | 379.81 | 400.34 |
| Selling General And Administration | - | 142.22 | 151.20 | 154.46 | 176.60 |
| Interest Income | - | 431.18 | 607.97 | 642.17 | 642.45 |
| Interest Expense | - | 53.70 | 238.24 | 308.14 | 282.23 |
| Net Interest Income | - | 377.48 | 369.73 | 334.04 | 360.22 |
| Pretax Income | - | 193.92 | 136.76 | 130.66 | 92.52 |
| Tax Provision | - | 46.56 | 32.70 | 30.27 | 21.49 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.82 | -0.02 | -0.42 | -3.73 |
| Net Income Continuous Operations | - | 147.36 | 104.06 | 100.39 | 71.03 |
| Net Income From Continuing And Discontinued Operation | - | 146.60 | 104.03 | 100.06 | 70.98 |
| Net Income From Continuing Operation Net Minority Interest | - | 146.60 | 104.03 | 100.06 | 70.98 |
| Net Income | - | 146.60 | 104.03 | 100.06 | 70.98 |
| Net Income Common Stockholders | - | 142.59 | 100.01 | 96.05 | 67.13 |
| Net Income Including Noncontrolling Interests | - | 147.36 | 104.06 | 100.39 | 71.03 |
| Normalized Income | - | 149.19 | 104.10 | 101.45 | 83.31 |
| Diluted NI Availto Com Stockholders | - | 142.59 | 100.01 | 96.05 | 67.13 |
| Basic Average Shares | - | 58.73 | 58.95 | 58.30 | 57.42 |
| Diluted Average Shares | - | 58.88 | 58.96 | 58.30 | 57.42 |
| Reconciled Depreciation | - | 16.48 | 16.40 | 14.54 | 14.41 |
| Total Unusual Items | - | -3.40 | -0.09 | -1.80 | -16.06 |
| Total Unusual Items Excluding Goodwill | - | -3.40 | -0.09 | -1.80 | -16.06 |
| Preferred Stock Dividends | - | 4.02 | 4.02 | 4.02 | 2.01 |
| Minority Interests | - | -0.75 | -0.04 | -0.32 | -0.05 |
| Special Income Charges | - | -3.45 | -0.09 | -1.78 | -15.78 |
| Restructuring And Mergern Acquisition | - | 3.45 | 0.09 | 1.78 | 15.78 |
| Gain On Sale Of Security | - | 16.75 | -2.99 | 5.10 | 4.57 |
| Depreciation Amortization Depletion Income Statement | - | 4.72 | 3.98 | 3.33 | 3.63 |
| Depreciation And Amortization In Income Statement | - | 4.72 | 3.98 | 3.33 | 3.63 |
| General And Administrative Expense | - | 139.27 | 146.96 | 149.30 | 170.95 |
| Other Gand A | 21.57 | - | - | - | - |
| Salaries And Wages | - | 131.92 | 135.80 | 138.34 | 159.35 |
| Insurance And Claims | - | 7.36 | 11.16 | 10.96 | 11.60 |
| Selling And Marketing Expense | - | 2.95 | 4.24 | 5.16 | 5.65 |
| Otherunder Preferred Stock Dividend | - | - | - | - | 1.84 |
| Amortization | - | 4.72 | 3.98 | 3.33 | 3.63 |
| Amortization Of Intangibles Income Statement | - | 4.72 | 3.98 | 3.33 | 3.63 |
| Occupancy And Equipment | - | 25.80 | 25.84 | 25.06 | 26.47 |
| Professional Expense And Contract Services Expense | - | 12.99 | 18.30 | 9.48 | 15.09 |
| Other Non Interest Expense | - | 40.73 | 44.86 | 47.35 | 54.08 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OceanFirst Financial Corp.this co. | OCFC | $1.0B | 14.45↑ premium | 0.62 | 4.3% | - |
| Coastal Financial Corporation | CCB | $1.1B | 22.81 | 2.18 | 9.6% | - |
| Porch Group, Inc. | PRCH | $1.1B | -314.12 | -42.88 | 13.7% | 15.96 |
| HBT Financial, Inc. | HBT | $1.0B | 13.54 | 1.69 | 12.5% | - |
| Northeast Bank | NBN | $1.0B |
| - |
| - |
| - |
| - |
| - |
| - |
| 12.39 |
| 2.09 |
| 16.9% |
| - |
| Safety Insurance Group, Inc. | SAFT | $1.0B | 10.16 | 1.12 | 11.1% | - |
| Virtus Investment Partners, Inc. | VRTS | $995M | 7.19 | 1.06 | 14.8% | 8.13 |
| Universal Insurance Holdings, Inc. | UVE | $990M | 5.41 | 1.80 | 33.2% | - |
| Southside Bancshares, Inc. | SBSI | $980M | 14.15 | 1.16 | 8.2% | - |
| Peer Median | - | 11.28 | 1.42 | 13.1% | 12.04 | |